Major land lease venture to target housing needs in Australia
MinterEllison has facilitated the creation of a strategic partnership between Stockland and Invesco Real Estate called Stockland Land Lease Partnership. This collaboration is projected to generate approximately $1 billion in gross development revenue, marking a notable development in the land lease sector.
The Stockland Land Lease Partnership is set to develop a large portfolio of land lease communities. This initiative aims to meet the needs of an aging population and address the increasing demand for affordable housing. Under this model, buyers own their homes but lease the land from an operator.
The MinterEllison team is led by corporate partner Louella Stone and real estate partner and industry leader Carla Deluca, both of who played a key role in advising on the partnership.
They were supported by tax partner Nathan Deveson, finance partner Daniel Marks, special counsel James Hamblin, and senior associates Cassandra Sweeney, Nick McConnell, Jane Muir Cottman, Claire Martin, and Thomas Galloway.
"We were delighted to advise Stockland on this strategic deal. We are proud to have brought together a multi-disciplinary legal team to orchestrate over 25 significant transaction documents, to bring this transaction to fruition,” Stone said.
"We understand the strategic importance that this Land Lease Partnership holds for Stockland and its growth in the Land Lease Communities sector. We appreciate Stockland for allowing us to support them in this milestone capital partnership,” Deluca said.
